On September 25, President Joko Widodo presided over the 8th groundbreaking ceremony in the new capital, attended by Zheng Nanyan, CEO of the renowned Chinese hotel group Deer Group.
During the groundbreaking ceremony, Jokowi said that Deer Group operates 9 hotel brands and 1,600 properties in multiple countries worldwide. The Deer Group's new capital project will become an important force in promoting the development of Indonesia's new capital, boosting the confidence of other investors to enter the new capital.
Deer Group officially entered the Indonesian market in July 2023, investing in the Indonesian hotel management platform IHI (Indies Hospitality Investments), which includes two hotel groups: Artotel Group and Swiss-Belhotel International Indonesia, with over 200 hotels and 25,000 rooms in Indonesia, becoming a partner of the platform. Subsequently, Deer Group established a Jakarta office and developed its own hotel brand Model J, featuring a simple and modern style, targeting the mid-to-high-end business hotel segment. The first Model J hotel is located in the Soekarno-Hatta International Airport business district and is expected to open this year.
Indonesia's new capital is located near the city of Balikpapan in East Kalimantan province, covering an area of 2,560 square kilometers, including a core capital area of 560 square kilometers and an expansion area of 2,000 square kilometers. The total investment is estimated at approximately IDR 220 billion, with the Indonesian government budget expected to contribute 20%, and the remaining 80% to be completed through cooperation between the government and private enterprises. To date, 8 rounds of groundbreaking ceremonies have been held, with investments received exceeding IDR 56 trillion, and about 60 projects have been implemented. The first phase of construction is 80% complete, and the capital relocation is expected to begin as early as 2025. In October 2024, Indonesia will undergo a government transition. The new president, Prabowo Subianto, has promised to continue President Jokowi's policies and push forward the development of the new capital.
The new capital of Indonesia is actively attracting investment in sectors such as telecommunications, transportation, real estate, water treatment and waste management, technology, education, health, and industrial parks, and has introduced a package of preferential policies, including corporate income tax and VAT reductions, as well as land rights of up to 160-190 years.
On September 25, President Joko Widodo presided over the 8th groundbreaking ceremony in the new capital, attended by Zheng Nanyan, CEO of the renowned Chinese hotel group Deer Group.
During the groundbreaking ceremony, Jokowi said that Deer Group operates 9 hotel brands and 1,600 properties in multiple countries worldwide. The Deer Group's new capital project will become an important force in promoting the development of Indonesia's new capital, boosting the confidence of other investors to enter the new capital.
Deer Group officially entered the Indonesian market in July 2023, investing in the Indonesian hotel management platform IHI (Indies Hospitality Investments), which includes two hotel groups: Artotel Group and Swiss-Belhotel International Indonesia, with over 200 hotels and 25,000 rooms in Indonesia, becoming a partner of the platform. Subsequently, Deer Group established a Jakarta office and developed its own hotel brand Model J, featuring a simple and modern style, targeting the mid-to-high-end business hotel segment. The first Model J hotel is located in the Soekarno-Hatta International Airport business district and is expected to open this year.
Indonesia's new capital is located near the city of Balikpapan in East Kalimantan province, covering an area of 2,560 square kilometers, including a core capital area of 560 square kilometers and an expansion area of 2,000 square kilometers. The total investment is estimated at approximately IDR 220 billion, with the Indonesian government budget expected to contribute 20%, and the remaining 80% to be completed through cooperation between the government and private enterprises. To date, 8 rounds of groundbreaking ceremonies have been held, with investments received exceeding IDR 56 trillion, and about 60 projects have been implemented. The first phase of construction is 80% complete, and the capital relocation is expected to begin as early as 2025. In October 2024, Indonesia will undergo a government transition. The new president, Prabowo Subianto, has promised to continue President Jokowi's policies and push forward the development of the new capital.
The new capital of Indonesia is actively attracting investment in sectors such as telecommunications, transportation, real estate, water treatment and waste management, technology, education, health, and industrial parks, and has introduced a package of preferential policies, including corporate income tax and VAT reductions, as well as land rights of up to 160-190 years.